Barratt Developments interim profit is poised to double

Housebuilder Barratt
Developments is set
to release a trading
statement on Wednesday
indicating that profits
are likely to double.

Analysts at Deutsche
Bank said: ‘We believe it
will show marginal progression
in both completions
and average selling
price in the first half of
the year, but with the
contribution of new land
driving more than a
doubling
of net profit.’

Margins in the sector
have risen because the
land builders bought
after the crash was
cheap and they are only
now selling the houses
on that land.